Principal Financial Group Inc. Has $13.14 Million Stock Position in Acadia Realty Trust (NYSE:AKR)

Principal Financial Group Inc. cut its stake in shares of Acadia Realty Trust (NYSE:AKRFree Report) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 559,435 shares of the real estate investment trust’s stock after selling 9,705 shares during the period. Principal Financial Group Inc. owned about 0.47% of Acadia Realty Trust worth $13,136,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC raised its position in Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares during the last quarter. APG Asset Management US Inc. bought a new position in Acadia Realty Trust in the 2nd quarter valued at approximately $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Acadia Realty Trust by 381.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock worth $15,422,000 after acquiring an additional 520,319 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Acadia Realty Trust in the 2nd quarter valued at approximately $5,090,000. Finally, Renaissance Technologies LLC raised its stake in shares of Acadia Realty Trust by 173.8% during the second quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock valued at $4,745,000 after acquiring an additional 168,100 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Down 0.7 %

Shares of NYSE:AKR opened at $23.99 on Friday. The business’s 50-day moving average is $24.83 and its 200-day moving average is $22.39. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 266.56, a P/E/G ratio of 6.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKRGet Free Report) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period last year, the business earned $0.27 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

Wall Street Analyst Weigh In

AKR has been the subject of a number of recent research reports. Truist Financial increased their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $23.00 to $27.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.40.

Get Our Latest Research Report on AKR

Acadia Realty Trust Company Profile

(Free Report)

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

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Institutional Ownership by Quarter for Acadia Realty Trust (NYSE:AKR)

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